Onconetix (NASDAQ:ONCO) Releases Earnings Results

Onconetix (NASDAQ:ONCO) announced its quarterly earnings data on Wednesday. The company reported ($6.71) EPS for the quarter, FiscalAI reports. Onconetix had a negative net margin of 1,717.50% and a positive return on equity of 8.24%. The firm had revenue of $0.02 million during the quarter.

Onconetix Stock Performance

Shares of ONCO stock traded down $0.02 during midday trading on Wednesday, hitting $0.39. 620,474 shares of the company were exchanged, compared to its average volume of 6,386,690. The firm has a market capitalization of $255,420.00, a P/E ratio of 0.00 and a beta of 3.01. The firm’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $6.81. Onconetix has a 52 week low of $0.36 and a 52 week high of $74.29.

Insider Transactions at Onconetix

In other Onconetix news, major shareholder Financial Lp Hrt sold 49,710 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $0.69, for a total value of $34,299.90. Following the completion of the sale, the insider owned 33,649 shares of the company’s stock, valued at $23,217.81. The trade was a 59.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have bought 201,540 shares of company stock valued at $152,875 and have sold 198,039 shares valued at $144,469. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Onconetix

A hedge fund recently bought a new stake in Onconetix stock. Pacific Capital Wealth Advisors Inc. acquired a new stake in Onconetix, Inc. (NASDAQ:ONCO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,000 shares of the company’s stock, valued at approximately $40,000. Pacific Capital Wealth Advisors Inc. owned 0.84% of Onconetix as of its most recent SEC filing. 23.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONCO has been the subject of a number of analyst reports. Weiss Ratings raised shares of Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Onconetix to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Onconetix has an average rating of “Sell”.

About Onconetix

Onconetix, Inc, a biotechnology company, focuses on the research, development, and commercialization of solutions for men's health and oncology. It offers Entadfi, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia; and Proclarix, an in vitro protein-based blood diagnostic test for prostate cancer. The company was formerly known as Blue Water Biotech, Inc and changed its name to Onconetix, Inc in December 2023. Onconetix, Inc was incorporated in 2018 and is headquartered in Cincinnati, Ohio.